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Bitcoin Exchanges Shut Down by Chinese Authorities

BEIJING—Chinese authorities are preparing to shut down the country’s bitcoin exchanges, according to people familiar with the matter, reflecting a growing unease with the virtual currency and its recent surge in value.

The policy shift in the world’s No. 2 economy shows how nations are wrestling with bitcoin and its place in the financial system. In China, specifically, the government’s attack on bitcoin comes amid a focus on...


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